AI

Using ChatGPT for drafting legal contracts can save time and streamline the process of creating agreements. However, like any tool, it comes with limitations and potential pitfalls that users must understand to avoid jeopardizing the validity of their contracts. Without proper precautions, reliance on AI could lead to critical errors, omissions, or non-compliance with legal standards. Here are seven key things NOT to do when using ChatGPT for contract writing:

Navigating legal documents is often a daunting task, especially for small and medium enterprises (SMEs). Contracts, Terms of Service agreements, and employment paperwork can all feel like they are written in a foreign language, filled with dense jargon and complex clauses that are hard to digest. For many SME owners, understanding these documents is crucial but time-consuming.

In this article, you will find nine ways in which large language models can already assist companies in contract management.

Artificial intelligence (AI) is developing at a tremendous pace and no area of life will remain untouched by it. Almost every other person has already tried chatting with the ChatGPT chatbot. In the last few months, several specialised apps have entered the market that use the same technology as ChatGPT, but focus on specific areas. Most of these apps are in the field of text processing, such as creating marketing texts or optimising and correcting spelling in web texts.